Housing ads would limit which homes count as “deeply affordable”

Housing advertisers would use “deeply affordable” only for homes affordable to families with very low incomes. The income category would follow federal rule 24 CFR 5.603. State and local governments would follow the same advertising rules when sharing public information about available homes. An advertiser with a financial interest in a home would commit false advertising by incorrectly calling it deeply affordable in printed or digital promotional materials. These advertising rules would cover homes supported by affordability incentives without changing eligibility for tax credits, grants, or other incentives. These rules would take effect on the 180th day after the bill becomes law.

Advertisers would clearly disclose how many homes meet the deeply affordable standard when advertising them alongside homes priced at market rates. The requirement would cover ads for a building or development containing both types of homes. State and local governments would also follow it when sharing information about available homes. An ad would give either the percentage of deeply affordable homes or both the number of deeply affordable homes and the number priced at market rates. The disclosure requirement would take effect on the 180th day after the bill becomes law.